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UBS has received regulatory approval to fully acquire UBS Securities, increasing its stake to 100% after purchasing an additional 33% from Beijing State-owned Assets Management. This move follows UBS's merger with Credit Suisse and is seen as a significant step in expanding its investment banking and wealth management services in China. UBS Securities, established in 2006, was the first foreign majority-owned securities firm in China as of 2018.
UBS has received regulatory approval from China's securities regulator to fully acquire UBS Securities, raising its stake to 100%. The Swiss bank will purchase an additional 33% from Beijing State-owned Assets Management, solidifying its position in the Chinese market.
UBS has received approval from China's securities regulator to fully acquire UBS Securities, increasing its ownership to 100%. The Swiss bank will purchase an additional 33% stake from Beijing State-owned Assets Management, solidifying its position in the Chinese market.
UBS has received regulatory approval from the China Securities Regulatory Commission to become the sole shareholder of UBS Securities. The Swiss bank will acquire an additional 33% stake from Beijing State-owned Assets Management, raising its ownership to 100%.
Guangzhou Automobile Group has established a new company in collaboration with Huawei to launch a high-end car brand. The investment for this venture amounts to 1.5 billion yuan ($207.46 million), as announced on WeChat.
Guangzhou Automobile Group has established a new company in collaboration with Huawei to launch a high-end car brand, investing 1.5 billion yuan (approximately $207.46 million) in the venture. This partnership aims to combine automotive and technology expertise to enhance the brand's offerings.
UBS is set to fully acquire its China securities joint venture, UBS Securities, as Beijing State-owned Asset Management plans to sell its 33% stake for 1.5 billion yuan ($207.10 million). UBS currently holds a 67% stake and aims to consolidate operations following its merger with Credit Suisse. Established in 2006, UBS Securities became the first foreign majority-owned securities firm in China in 2018.
Beijing State-owned Asset Management (BSAM) is set to sell a 33% stake in UBS Securities for 1.5 billion yuan ($207.10 million), according to the China Beijing Equity Exchange. UBS Securities, established in 2006, became the first foreign majority-owned securities firm in China in 2018, with UBS currently holding a 67% stake.
Beijing State-owned Asset Management (BSAM) is set to sell a 33% stake in UBS Securities for 1.5 billion yuan ($207.10 million), as reported by the China Beijing Equity Exchange. UBS currently holds a 67% stake in the firm, which became the first foreign majority-owned securities company in China in 2018.
Yukun Zhang
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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